Four-Unit Residential
New
For Sale
$269,900
216 Sharpe Road, Rocky Mount, NC 27803
Residential Income, Rocky Mount, NC
Property Size2,376 SF
Lot Size0.40 Acres
Price / SF$113.59
Days on Market3
Property Features for 216 Sharpe Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Residential
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 7, Bedroom 8, Bathroom 8, Bathroom 4, Bathroom 6, Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 7, Bedroom 5, Bathroom 5
Subdivision
Not In Subdivision
Elementary school
Coopers
Middle school
Nash Central
High school
Nash Central
Directions
Take 301 and turn right on Sharpe
Standard status
Active
APN
374719514167
Size
2,376 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
2lt., 42 43 Blk A Edgwood Pk split out of 374718419632
Legal Description
2lt., 42 43 Blk A Edgwood Pk split out of 374718419632
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1987
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Block, Brick, Wood Frame
Roof type
Composition
Listing Agency:
THORNE REALTY, INC.
(252) 446-6195
Listed By:
Donna Bailey · License #209292
(252) 813-2705
Added: Sep 17
Changed: Sep 18
Last Checked: Sep 19 at 8:06PM
MLS# 100604209
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 216 Sharpe Road in Rocky Mount, this residential quadplex contains four two-bedroom units totaling 2376 square feet. The property was built in 1987 and uses block, brick, and wood-frame construction. Interior finishes include carpet and vinyl flooring, while the building is equipped with central air, forced-air heating, and a composition roof.
The property occupies 0.4 acres and carries Residential zoning. Its configuration includes eight bedrooms and eight bathrooms across the four units, providing a clearly defined multifamily layout.
The property occupies 0.4 acres and carries Residential zoning. Its configuration includes eight bedrooms and eight bathrooms across the four units, providing a clearly defined multifamily layout.
Key Highlights
- Four two‑bedroom units totaling 2376 square feet
- Eight bedrooms and eight bathrooms across the property
- Built in 1987 on 0.4 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,662
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$473,240
$473.2K
Cap Rate 7%
$338,029
$338.0K
Cap Rate 9%
$262,911
$262.9K
Market Conditions
NOI Build-Up for 2,376 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.2K $15.24/SF
− Vacancy
−$2.4K −$1.01/SF
EGI
$33.8K $14.23/SF
− OpEx
−$10.1K −$4.27/SF
NOI
$23.7K $9.96/SF
Area
Nash County, NC
Vacancy
6.65%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$473,240
Cap Rate 7%
$338,029
Cap Rate 9%
$262,911
Alternative Uses
Best Use
Multifamily LT 5
$338.0K
$295.8K – $394.4K
NOI $23,662 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$300.0K
$262.5K – $350.0K
NOI $21,001 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 27803, NC
20,882
Population
10,079
Households
2.1
Avg Household Size
44
Median Age
23%
College-Educated
88%
High-School Grad
41.9 sq mi
ZIP Area
498
Density / Sq Mi
$59,647
Median Household Income
$38,154
Median Earnings
$889
Median Rent
$168,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential quadplex with four two-bedroom units, central air, and forced-air heating.
Where is this quadplex located?
The property is located at 216 Sharpe Road Rocky Mount, NC.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Four two‑bedroom units totaling 2376 square feet; Eight bedrooms and eight bathrooms across the property; Built in 1987 on 0.4 acres
